According to agency theory, we hypothesize that underpayment of top management motivates management to overinvest. Using a sample of Chinese-listed companies for the period 2005-10, we assess the effect of managerial compensation on overinvestment and the effect of overinvestment on managerial...

This paper examines the effect of corporate governance and stock liquidity on corporate payout policy in the context of the split-share structure reform initiated in 2005 in China. In this reform, non-tradable shares were converted into tradable shares compulsorily. The reform removed a...

This paper examines the effect of corporate governance and stock liquidity on corporate payout policy in the context of the split-share structure reform initiated in 2005 in China. In this reform, non-tradable shares were converted into tradable shares compulsorily. The reform removed a...

In this paper, we examine the announcement effects of dividends with an emphasis on stock dividends in China's capital market. We find that dividend-paying stocks exhibit significantly positive abnormal returns while non-dividend-paying stocks show a negative announcement effect. Further, we...

Third-party tracking, the collection and sharing of behavioural data about individuals, is a significant and ubiquitous privacy threat in mobile apps. The EU General Data Protection Regulation (GDPR) was introduced in 2018 to protect personal data better, but there exists, thus far, limited...